A credit balance is the result of an overpayment on a student's account from Financial Aid, loans or payments received. Credit balance refunds will be processed when a credit actually exists on the student's account. Anticipated Financial Aid must be posted to the student's account in order for a credit to exist and for a refund to be processed.

For students who have applied for financial aid loans, here is what you can expect:

If you have accepted your loan(s) and have returned your award letter to the financial aid office then you will receive a disclosure statement by mail (or online in MyView) informing you of when your funds will be disbursed to UMSL.

Once your student account has been reviewed, all your paperwork completed, and it is verified by the financial aid office that you are enrolled in sufficient class hours to receive the financial aid; your funds will then be released from the lender. The timeframe for UMSL to receive your funds from the lender is 3-5 business days.You are not eligible for a refund at this point because your aid is still classified as anticipated.

When your financial aid funds are received by UMSL, the funds are then applied to your student account. During the Fall and Spring semesters, your financial aid funds will be applied to your student account no sooner than ten days prior to the start of classes.During the Summer semester, your financial aid funds will be applied to your student account no sooner than the day you are actually taking the course(s) that have the hours required to receive the aid.

After your financial aid funds have paid your student account charges in full, if you then have a credit balance on your account, you are now eligible for a refund.

As student accounts go into credit balance, the Cashier’s office processes refunds to students by checks through the mail and by electronic transfer to a personal checking or savings account (if you have signed up for direct deposit).

Please allow 7-10 business days from the day that your refund is processed to receive your refund check in the mail. For students that have direct deposit, allow 3-5 business days from the day that your refund is processed to receive your refund in your bank account. Click here for instructions on how to find out when your refund was processed.

NOTE: Your agreement to allow your Federal Financial Aid to be applied toward all charges on your student account is important as this may impact the processing of your refund. Your refund may not be mailed to you or direct deposited into your bank account if your student account reflects a balance due after your refund has been processed. This applies if you have a balance due in the current term because you have not agreed to allow your aid to pay all charges or if you have a balance due in a term from the prior financial aid year. Refunds to students having a balance due are processed as a paper check that is routed to the Cashier's Office, not to the student. As refund checks are received in the Cashier's Office, students are emailed to advise that a check is available for pickup.